Economic Heartbeat
January jobs data follow grim pattern from previous year
Government adds positions as private sector suffers more losses
New Jersey Employment Losses
This monthly report was prepared for NJBIZ by James W. Hughes, dean of the Edward J. Bloustein (Seasonally Adjusted)
School of Planning & Public Policy at Rutgers University; Nancy H. Mantell, director of the Rutgers
Economic Advisory Service; and Joseph J. Seneca, university professor, Edward J. Bloustein School. Dec. ’07 - Dec. ‘08 Dec. ‘08 - Jan. ‘09
THE 2008 NEW JERSEY economy is now final- by trade, transportation and utilities (31,000 Total Nonfarm -85,700 -8,900
ly in the history books. The New Jersey Depart- jobs), professional and business services
Total Private Sector -88,700 -9,300
ment of Labor and Workforce Development’s (23,100 jobs), manufacturing (20,000 jobs),
newly revised and re-benchmarked payroll construction (14,600 jobs), financial activities Goods Producing -34,600 -8,000
employment statistics show that New Jersey (13,100 jobs), information (3,300 jobs) and Natural Resources and Mining 0 -200
lost 85,700 total jobs in 2008 (December 2007 other services (1,200 jobs). Construction -14,600 -2,900
to December 2008), instead of the previously The grim statistics continued in January
Manufacturing -20,000 -4,900
reported 63,000 jobs — more than one-third 2009. Another 9,300 private-sector jobs disap-
(22,700 jobs) higher. peared during the month, while the public Private Service-Providing -54,100 -1,300
The revised private-sector employment sector expanded by 400 jobs. Significantly, the Trade, Transportation & Utilities -31,000 8,500
loss was 88,700 jobs, nearly one-half (28,900 downward spiral in the high-paying profes- Information -3,300 300
jobs) higher than the 59,800 job decline previ- sional and business services (6,700 jobs) and Financial Activities -13,100 -4,800
ously reported. And, in sharp contrast, a previ- financial activities (4,800 jobs) sectors contin-
Professional and Business Services -23,100 -6,700
ously reported loss of 3,200 public-sector jobs ued; manufacturing (4,900 jobs) and con-
was changed to a gain of 3,000 public-sector struction (2,900 jobs) also kept falling. Mean- Educational and Health Services 15,500